Deniz 
Cosmos (ATOM) is a decentralized network of independent, scalable, and interoperable blockchains, aiming to create an “Internet of Blockchains” by allowing seamless interaction between different chains. The native token, ATOM, plays a crucial role in maintaining network security and facilitating transactions within the Cosmos ecosystem.
Price History and Current Trends
Starting strong and rising above $44 in January 2022, the price finally dropped under the pessimistic attitudes of the market. It has battled to regain up to the same degrees since then. The coin is not likely to drop below the $5.0 mark, though, since just recently it has attracted substantial support at that level. This coin’s bottom could be in, hence investors wishing to enter Cosmos now could get good profits. More people will start looking into altcoins if the structure of the market shows optimism.
Overview
Cryptocurrency: Cosmos
Token: ATOM
Price: $4.60
Market Cap: $1,821,469,128
Trading Volume: $280,639,551
Circulating Supply: 390,930,671 ATOM
All-time High: $44.47
All-time Low: $1.13
Technical Analysis: Cosmos Price Forecast
Volatility: 14%
50-Day SMA: $8.10
14-Day RSI: 38
Sentiment: Bearish
Fear & Greed Index: 30 (Fear)
Green Days: 12/30 (40%)
200-Day SMA: $9.87
ATOM/USD 4-hour price chart
The Cosmos chart for four hours is substantially like its daily chart. At $4.02, ATOM/USD has found great support. The price somewhat recovered following that point because of growing buying pressure. Cosmos (ATOM) is now retesting the trend line; so it is predicted to go lower afterwards. Should Cosmos recover from this level, the next main obstacle will be $6.39, from where Cosmos has lately slipped. To go back to that point, the market will need additional positive signals, though.
Maybe the local bottom is at the $4.29 level. Cosmos might spend some time consolidating horizontally before ascending. Still, Cosmos is probably going to dip lower once again, depending on the signals from the bigger timeframes.
Price Predictions for 2024
Following the recent ETH ETF clearance, the general market structure has grown somewhat optimistic. For this reason, over the next few months, we should anticipate more money entering the bitcoin market. By Q4 of 2024, Cosmos will show progress if geopolitical tensions and the state of the world’s economy do not deteriorate. Its retest should be near $14.5 and recover over $11.4. Should a bull run be validated, ATOM’s price will probably surpass these benchmarks.
Conclusion
Although ATOM’s future is yet unknown, its importance inside the Cosmos ecosystem and the larger blockchain sector places it as a major actor in the continuous development of distributed technology. To evaluate ATOM’s potential for recovery and expansion in the next few years, investors and fans will have to keep updated about events inside the Cosmos network and the larger market.
For more information on Cosmos and its potential applications, you can visit the official website of Cosmos.
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